PharMerica Corp. (PMC) Sees Strong Trading Volume
Shares of PharMerica Corp. (NYSE:PMC) saw unusually-strong trading volume on Tuesday . Approximately 366,567 shares were traded during trading, an increase of 116% from the previous session’s volume of 169,644 shares.The stock last traded at $24.52 and had previously closed at $26.27.
Several analysts have recently weighed in on PMC shares. Bank of America Corp. started coverage on PharMerica Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $32.00 price target on the stock. Zacks Investment Research cut PharMerica Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. TheStreet cut PharMerica Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Finally, Barrington Research restated an “outperform” rating and set a $34.00 price target (up from $30.00) on shares of PharMerica Corp. in a report on Tuesday, May 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $31.57.
The company’s 50 day moving average is $25.58 and its 200 day moving average is $25.12. The company has a market cap of $749.29 million and a price-to-earnings ratio of 25.40.
PharMerica Corp. (NYSE:PMC) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. During the same period last year, the company posted $0.48 EPS. The company had revenue of $519.60 million for the quarter, compared to analysts’ expectations of $508.31 million. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts predict that PharMerica Corp. will post $2.02 EPS for the current fiscal year.
Several hedge funds have added to or reduced their stakes in PMC. Airain ltd boosted its stake in PharMerica Corp. by 8,998.1% in the fourth quarter. Airain ltd now owns 1,222,061 shares of the company’s stock valued at $14,499,000 after buying an additional 1,208,629 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in PharMerica Corp. by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,579,111 shares of the company’s stock valued at $90,269,000 after buying an additional 41,387 shares during the last quarter. Redwood Investments LLC boosted its stake in PharMerica Corp. by 6.3% in the fourth quarter. Redwood Investments LLC now owns 58,400 shares of the company’s stock valued at $2,044,000 after buying an additional 3,444 shares during the last quarter. Trexquant Investment LP boosted its stake in PharMerica Corp. by 148.9% in the fourth quarter. Trexquant Investment LP now owns 30,140 shares of the company’s stock valued at $1,055,000 after buying an additional 18,031 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in PharMerica Corp. by 12.0% in the fourth quarter. Systematic Financial Management LP now owns 486,036 shares of the company’s stock valued at $17,011,000 after buying an additional 51,887 shares during the last quarter.
PharMerica Corporation is an institutional pharmacy services company. The Company services healthcare facilities, provides pharmacy management services to hospitals, provides specialty infusion services to patients outside a hospital setting and offers the national oncology pharmacy in the United States.
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